Cobblestone Capital Advisors LLC NY Increases Stock Position in The Goldman Sachs Group, Inc. (NYSE:GS)

Cobblestone Capital Advisors LLC NY lifted its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 7.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,570 shares of the investment management company’s stock after purchasing an additional 105 shares during the period. Cobblestone Capital Advisors LLC NY’s holdings in The Goldman Sachs Group were worth $777,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. POM Investment Strategies LLC acquired a new stake in shares of The Goldman Sachs Group during the 2nd quarter worth about $26,000. Semmax Financial Advisors Inc. purchased a new stake in The Goldman Sachs Group in the 2nd quarter worth approximately $26,000. Headlands Technologies LLC acquired a new position in The Goldman Sachs Group in the 2nd quarter valued at $27,000. SJS Investment Consulting Inc. lifted its stake in shares of The Goldman Sachs Group by 103.3% during the 2nd quarter. SJS Investment Consulting Inc. now owns 61 shares of the investment management company’s stock worth $28,000 after purchasing an additional 31 shares during the period. Finally, Quest Partners LLC boosted its holdings in shares of The Goldman Sachs Group by 6,300.0% during the second quarter. Quest Partners LLC now owns 64 shares of the investment management company’s stock worth $29,000 after purchasing an additional 63 shares during the last quarter. 71.21% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CAO Sheara J. Fredman sold 2,974 shares of The Goldman Sachs Group stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $594.51, for a total transaction of $1,768,072.74. Following the transaction, the chief accounting officer now directly owns 8,489 shares in the company, valued at approximately $5,046,795.39. This trade represents a 25.94 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Brian J. Lee sold 2,000 shares of the company’s stock in a transaction on Thursday, October 17th. The shares were sold at an average price of $530.90, for a total value of $1,061,800.00. Following the completion of the sale, the insider now owns 10,095 shares of the company’s stock, valued at approximately $5,359,435.50. This trade represents a 16.54 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,390 shares of company stock worth $6,656,119. 0.54% of the stock is owned by company insiders.

The Goldman Sachs Group Price Performance

Shares of GS opened at $608.57 on Monday. The company has a debt-to-equity ratio of 2.32, a current ratio of 0.67 and a quick ratio of 0.67. The company has a market cap of $191.04 billion, a P/E ratio of 17.86, a PEG ratio of 0.88 and a beta of 1.35. The Goldman Sachs Group, Inc. has a 12 month low of $340.09 and a 12 month high of $612.73. The stock has a fifty day moving average price of $540.94 and a 200 day moving average price of $499.68.

The Goldman Sachs Group (NYSE:GS) last released its quarterly earnings data on Tuesday, October 15th. The investment management company reported $8.40 earnings per share for the quarter, topping analysts’ consensus estimates of $6.89 by $1.51. The business had revenue of $12.70 billion for the quarter, compared to analysts’ expectations of $11.77 billion. The Goldman Sachs Group had a net margin of 9.89% and a return on equity of 11.39%. The company’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same quarter last year, the company earned $5.47 EPS. On average, research analysts forecast that The Goldman Sachs Group, Inc. will post 37.15 earnings per share for the current year.

The Goldman Sachs Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 2nd will be paid a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a yield of 1.97%. The ex-dividend date is Monday, December 2nd. The Goldman Sachs Group’s payout ratio is currently 35.21%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on GS. JMP Securities increased their target price on The Goldman Sachs Group from $525.00 to $550.00 and gave the stock a “market outperform” rating in a research report on Wednesday, October 9th. Barclays increased their price objective on shares of The Goldman Sachs Group from $565.00 to $588.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Wells Fargo & Company upped their price target on shares of The Goldman Sachs Group from $600.00 to $680.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Evercore ISI boosted their price objective on shares of The Goldman Sachs Group from $520.00 to $575.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Finally, HSBC downgraded The Goldman Sachs Group from a “buy” rating to a “hold” rating and boosted their price target for the company from $569.00 to $608.00 in a research report on Tuesday, November 26th. Seven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $550.63.

The Goldman Sachs Group Profile

The Goldman Sachs Group, Inc, a financial institution, provides a range of financial services for corporations, financial institutions, governments, and individuals worldwide. It operates through Global Banking & Markets, Asset & Wealth Management, and Platform Solutions segments. The Global Banking & Markets segment provides financial advisory services, including strategic advisory assignments related to mergers and acquisitions, divestitures, corporate defense activities, restructurings, and spin-offs; and relationship lending, and acquisition financing, as well as secured lending, through structured credit and asset-backed lending and involved in financing under securities to resale agreements.